Salem Radio Network News Friday, March 24, 2023


Qualtrics gets $12.4 billion buyout offer from Silver Lake, Canada’s CPPIB

(Reuters) -Software maker Qualtrics International Inc said on Monday it has received a $12.4 billion go-private offer from private equity firm Silver Lake Management and Canada Pension Plan Investment Board (CPPIB).

The offer values Qualtrics at $18.15 per share, a premium of nearly 6% to the stock’s last closing price.

Shares of Qualtrics rose 2.8% in early trading. They have gained 8.8% since the start of February when Silver Lake first expressed its interest in Qualtrics.

Qualtrics and Silver Lake have entered into an exclusivity agreement for the deal talks, which ends on March 15.

Germany’s SAP, the majority investor in Qualtrics with a 71% stake, said in January it was mulling a sale of its interest in the U.S. company as part of a restructuring. SAP had bought Qualtrics in 2019 for $8 billion from founder Ryan Smith.

Silver Lake already holds a near 4.2% stake in Qualtrics.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Uttaresh Venkateshwaran and Shailesh Kuber)


Editorial Cartoons

View More »

Steve Breen
Sat, Mar 18, 2023